{"id":4202,"date":"2018-04-05T14:30:07","date_gmt":"2018-04-05T13:30:07","guid":{"rendered":"https:\/\/praguebusinessjournal.com\/?p=4202"},"modified":"2020-02-04T19:45:52","modified_gmt":"2020-02-04T18:45:52","slug":"czechinvest-promises-kc11-billion-in-investment-incentives","status":"publish","type":"post","link":"https:\/\/praguebusinessjournal.com\/czechinvest-promises-kc11-billion-in-investment-incentives\/","title":{"rendered":"CzechInvest Promises Kc11 Billion In Investment Incentives"},"content":{"rendered":"

Prague, April 5 (CTK) – The Czech state promised Kc10.7bn worth of investment incentives to 74 projects in 2017, providing aid to investments worth a total of Kc45bn, and the number of jobs companies should create in the future reached 8,260, according to the latest data of CzechInvest agency.<\/span><\/p>\n

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Data on total investments arranged in the Czech Republic, including those where companies did not ask for incentives, will be released by the agency later.<\/span><\/p>\n

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Most incentives headed in production.<\/span><\/p>\n

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For the support of technology and strategic service centres, CzechInvest promised Kc160m to projects of companies Deutsche Telekom Services Europe Czech Republic, Honeywell International and Infosys Limited, all in Brno.<\/span><\/p>\n

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The Industry and Trade Ministry is working on an amendment to law on investment incentives so that mainly investors with a higher value added get the aid in the future.<\/span><\/p>\n

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The document should be presented to the government in June, Industry and Trade Minister Tomas Huner told CTK.<\/span><\/p>\n

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Manufacturing industry’s projects with investment incentives already have a higher value added, CzechInvest said.<\/span><\/p>\n

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Almost all the companies conduct research and development within the production, CzechInvest’s head of investment projects support department Marcela Kolvekova said.<\/span><\/p>\n

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Roughly 15 percent of investment incentives beneficiaries cooperate with the Czech Republic’s universities and research institutions intensively and some 45 percent partially, Kolvekova said.<\/span><\/p>\n

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Incentives contributed to the support of applied research, development and innovations of about 40 percent of projects.<\/span><\/p>\n

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Firms Labe Wood and Karsit Automotive are supposed to gain the biggest investment incentive of up to Kc502m.<\/span><\/p>\n

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Labe Wood plans to invest Kc2.7bn in the construction of a sawmill in Steti, northern Bohemia.<\/span><\/p>\n

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Karsit Automotive wants to build a Kc2.7bn car components plant in Dvur Kralove nad Labem, eastern Bohemia, creating 230 new jobs.<\/span><\/p>\n

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CzechInvest’s new head Silvana Jirotkova said last week that the Czech Republic has to start choosing technologically advanced foreign investments that are linked to Industry 4.0 and bring value added.<\/span><\/p>\n

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The Czech state should shift its focus from attracting investment merely because of the number of jobs to the positions being qualified, Jirotkova said.<\/span><\/p>\n

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Prime Minister Andrej Babis has said that state-run agencies CzechInvest and CzechTrade should merge.<\/span><\/p>\n

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From July 2014, the maximum aid to Czech regions’ large, medium-sized and small companies is 25 percent, 35 percent and 45 percent of the investment, respectively, based on the European Commission’s decision.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Prague, April 5 (CTK) – The Czech state promised Kc10.7bn worth of investment incentives to 74 projects in 2017, providing aid to investments worth a total of Kc45bn, and the number of jobs companies should create in the future reached 8,260, according to the latest data of CzechInvest agency.   Data on total investments arranged … Read more<\/a><\/p>\n","protected":false},"author":6,"featured_media":2278,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[18],"tags":[15,372,6],"jetpack_publicize_connections":[],"yoast_head":"\nCzechInvest Promises Kc11 Billion In Investment Incentives - Prague Business Journal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/praguebusinessjournal.com\/czechinvest-promises-kc11-billion-in-investment-incentives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CzechInvest Promises Kc11 Billion In Investment Incentives - Prague Business Journal\" \/>\n<meta property=\"og:description\" content=\"Prague, April 5 (CTK) – The Czech state promised Kc10.7bn worth of investment incentives to 74 projects in 2017, providing aid to investments worth a total of Kc45bn, and the number of jobs companies should create in the future reached 8,260, according to the latest data of CzechInvest agency.   Data on total investments arranged ... 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